Westpac has announced that they will increase interest rates on all variable mortgages by 0.20%. The changes come into effect on November 20th. At this time, it is not known if other banks will follow suit. It seems to be a good time to start considering fixing a portion of our home loansRead More
In Australia, interest on home loans is quoted as an annual rate, then calculated daily, and charged monthly. We decided to have a streetonomic look at how the interest on your home loan is calculated and what you can do to pay less interest and get out debt fasterRead More
Getting your credit cards under control will improve your finances, reduce your stress, and put you on a path to a better future (financially). Here are our 6 strategies to help you get rid of your credit card debt.Read More
Along with two thirds of the market, we believe the Reserve Bank of Australia will cut the official cash rate by 25 basis points when they meet after the Easter long weekend, on Tuesday April 7th. The official cash rate will drop to an all time low of 2.00%. We discuss why we believe the RBA will cut rates.
We also look at a history of the standard variable rate charged by banks, and see that there is a possibility that we will not see the full rate cut passed on to our home loans.Read More